Advent Software Q1 Beats, Sets $0.13/Sh Qtrly Dividend

By Tiernan Ray

Shares of investment management software maker Advent Software (ADVS) are unchanged at $25.99 in late trading after the company this afternoon reportedQ1 results that slightly exceeded analysts’ expectations, forecast this quarter’s results below consensus, and announced it instituted a quarterly dividend.

Revenue in the three months ended in March rose 5%, year over year, to $96.8 million, yielding EPS of 33 cents, excluding some costs.

Analysts had been modeling revenue of $96.54 million and 32 cents per share.

CEO Pete Hess declared, “We are in a great position with solid profitability and excellent cash flow, and we continue to strengthen our competitive advantage while at the same time committing to further enhance shareholder value.”

In a separate deck of slides, the company said its “annualized recurring run rate” of revenue is $375.8 million, a 6% increase from the year-earlier quarter’s run rate.

For the current quarter, the company sees revenue in a range of $96 million to $98 million, below the consensus for $99.1 million.

For the full year, the company sees revenue of $395 million to $403 million, which compares to the average $403 million estimate of analysts.

Separately, the company said its board of directors authorized a quarterly dividend of 13 cents per share. The first payment will be made on July 15th to holders of record as of June 30th. Last year the company paid out $470 million in a one-time special $9-per-share dividend.

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.